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Phunking for a Phone
There's no problem to write about. That's really funny.
Providing further proof there really is a problem with Apple and the latest phone, John Gruber launched into a supposedly humorous piece last Thursday on why there's no need to write yet another piece about Apple and the latest phone.
Gruber starts by talking about his supposed insider at Apple who congratulates him on all his foolish attacks on Apple's competitors and then asks if he'd be willing to write another final killer piece on Dan Lyons/Fake Steve.
'But then she gets serious, and says Apple will make it worth my while if I'd close out this antenna saga with a 'Jackass of the Week' piece responding to Dan Lyons' Antennagate story.'
The Lyons piece is published at Newsweek.
Apple's Rotten Response
Gruber starts right in with a quote from how Lyons himself starts.
'I wonder if panic has started to set in at Apple yet. If not, it should. Because today's hastily called news conference - ostensibly to discuss problems with iPhone 4 and how Apple intends to fix them - only did further damage to Apple's reputation.'
Something about which pundits around the world are in fact in agreement. But Gruber's snarky retort?
'Which is a polite way to start, because, well, we all know just how panicked everyone at Apple is feeling these days about the company's prospects. (You'd be surprised at how many of the senior VPs at last week's event reeked of booze, and it was only 10 AM. Nerves are frayed.)'
But nerves are frayed. Everyone saw it, felt it. Something monstrous fucked up at Apple and Steve Jobs was shattered - he announced a last minute press conference, chose very carefully who could attend and who could not, then told everyone he'd keep them only fifteen minutes. (Which turned into seventy-five. Good planning.)
Then he continually got flustered, summoned up two heavies to sit with him on stage, and began uttering things people had never heard from him before - like calling out the media as fiends, calling their articles 'a crock' and 'bullshit' - this is not the cool and charismatic Steve Jobs the world is familiar with.
Right there one sees all the symptoms of an epic fail. And to this day, Consumer Reports are still not prepared to recommend the iPhone, Steve Wozniak reported issues with it, Whoopi Goldberg went ballistic about it on national television - the list goes on and on. Of course it's a panic mode at Apple. That's why they called a press conference that ended up falling into shambles before their select fanboy audience.
Gruber quotes Lyons again, saying Lyons is of the opinion Jobs has lost touch with reality - something a lot of people comment on.
'Apple CEO Steve Jobs came up with a two-part solution. Part 1: There is no problem. Part 2: Even though there is no problem, we're going to give everyone a free case, which should insulate the antenna and prevent the interference that we just told you isn't actually occurring.'
That's the way everyone outside the RDF sees it. Gruber was thoroughly masticated by Michael Arrington (to the point Gruber attacked him behind his back online later) for being inside the field, for not being able to simply like or dislike a product, but for having the need to personally identify with a product and its company. The definition of fanboy, a term Gruber doesn't feel applies to him.
'I went back through my notes on the press conference', writes Gruber, ready to take things out of context and at face value and disregard the bigger picture - anything to defend himself or the product and company he needs to identify with. For it's not just a consumer device for him as it is for Consumer Reports or Steve Wozniak or Whoopi Goldberg.
Gruber quotes Jobs.
'And so the iPhone antenna went through all of this. We tested it. We knew that if you gripped it in a certain way, the bars are going to go down a little bit, just like every smartphone. We didn't think it'd be a big problem, because every smartphone has this issue.'
But what they didn't test - what they didn't test at all - was how the market and the media were going to react. They got that completely wrong. The very fact Gruber tasks himself with writing more and more pieces ad nauseam et ad infinitum defending something that shouldn't need defending is proof enough.
It's not apparent 'Apple' really thought that way at all. And if they did: they were wrong.
And not every other phone has the problem: you have to assume a 'death grip' - hold the danged thing like you want to crush the casing - to get anything like the iPhone 4 effect.
And it's not about the bars going down 'a little bit' - calls get dropped. Some pundits can't even use the device for calls - it can get that hopeless.
The official word from Consumer Reports is that at least 20 dB can be lost - which, as they point out, is more than enough to result in dropped calls in some areas. So it's not a little bit and it's not trivial. Dropped calls never are.
And the bumper is not a solution. Consumer Reports said it wasn't a solution but no one has to believe them. If the bumper's the solution then the overall design of the phone is flawed. It's supposed to be pretty - to be dazzling, iconic - to behold. And no smartphone is going to be pretty, dazzling, or iconic with an ugly rubber around the edge.
The fact that the bumper can totally resolve all issues proves there's a flaw in the design. End of story. 'We like to make really good products', Jobs told Mossberg. But in this case 'really good product' means something that looks sort of cool until you try to use it - whereupon you have to make it look ugly with an add-on formerly priced at $29 (with a $20 markup).
Gruber quotes Lyons again.
'This is classic Apple behaviour. No matter what the whole world can see with its own eyes, just keep saying that it isn't true...'
And get fanboys to keep churning out blog posts with the same message.
'By refusing to acknowledge the problem, Jobs just reinforced the image of Apple as a company that is in deep denial and unable to admit a mistake...'
No news there.
'a company that has for so long been able to bend reality to suit its needs that it now has lost touch with reality itself'
Doesn't seem to be much of an issue there either. But that's from outside the RDF. Where some people choose for their own reasons to reside.
'But where's the acknowledgement that the iPhone 4 antenna is this year's Ishtar? Where's the product recall? Where's the 'KICK ME' sign on Steve Jobs' black shirt? Why does Bob Mansfield still have a job?'
Ah. Such rhetoric. Not logic - emotional drool. And of course Bob Mansfield has a job - no one seriously thinks he came up with or approved such a cockamamie idea that experts dismissed as 'old news' and no company wanted to touch? This wasn't Bob's call. More like the notorious micromanager's call. Which is why the company find themselves in such a crisis today. Some micromanagers simply don't listen.
That 'antenna on the rim' idea is simply a Bad Idea™.
'That's the uncomfortable truth', whines Gruber about the supposed 'truth' in Apple's cowardly and unethical attacks on the competition when their backs are up against the wall - never mind that all those competitors were so incensed at Apple's and Steve Job's cowardly bullshit attack that they issued official statements already at the weekend - it's just a really cowardly and unethical way to behave and Steve Jobs and the people at Apple know it. Gruber might know it too - but he'd most likely need to go cold turkey from the Blood of Kali to see it.
Gruber quotes Lyons again - and doesn't see the gem in the rough when it's right there in front of him.
'The real issue here is how the product is perceived. If you need to put a rubber case on a phone to make it work correctly, there must be something wrong with it, don't you think?'
Indeed. Perception is reality. And here's what people are perceiving. At least outside the RDF.
- People complained about connectivity.
- The antenna gap was the suspected culprit.
- Jobs told people in cryptic one-line mail messages to stop holding the phone wrong.
- Apple published an article online (no press conference) intimating the issues had to do not with signal strength but the representation of it. Calls were dropped because they appeared to have low signal strength.
- People thought that sounded fishy and cheap.
- Consumer Reports go back and test the phone again, corroborate the stories, and give the device a 'thumbs down'.
- This has enough impact on Apple and Jobs that they call a press conference that's shambolically organised and run. People see them stumbling over their own feet and they don't appreciate how the event goes down.
- And then Gruber, an hour after Apple explained that no one at Infinite Loop needs a bumper because of the great connectivity there, asks the three on stage if they have bumpers. This is a pointless question as he and everyone already know they don't - they've already said they don't need them.
- Jobs, Cook, and Mansfield all pull out their phones sans bumpers and show them to the audience. This is like someone applauding a demagogue in a staged rally or feeding questions to Steve Ballmer.
- And then Gruber puts the cherry atop the double layered tart, blurting out 'I don't have one either', which is supposed to mean - liberally translated - that only the Enemies of Apple would dare do such a thing, that there is no Antennagate, that no one really has an issue with reception (or AT&T) and that anyone complaining is an Apple hater. With people like Gruber polluting the Internet, who needs to make up an excuse to hate them?
The skinny is this: if there was no issue then Apple wouldn't have gone into panic mode and called that abortive press conference, if there was no issue then they wouldn't have made cheap shots at the competition, if there was no issue then no one would have said a thing, if there was no issue then there wouldn't be the buzz there is today, if there was no issue then Gruber wouldn't have worked overtime all weekend to counteract it.
Apple and Jobs were incapable of controlling the situation, controlling the spin. Apple's market suffered damage. Their stock dropped considerably already on Friday afternoon after that 'great' press conference. They obviously didn't want this to happen - they wanted none of this to happen. But they were powerless to prevent it.
That's the bottom line - an epic fail.
'Jobs... seems scornful of customers who have complained.'
Well yeah. DUH. He was bitter, poorly prepared, obviously flustered. Just as everyone's read about how he really is in all those books about him he's boycotted.
But what does this matter? That's Gruber's final argument. Bookmark his article and come back a year later. Precisely as his colleague said in the TechCrunch interview - who cares if it's flawed? Because it's not flawed if people still buy it!
Not everyone would invite Dan Lyons to dinner. That's a given. But that's beside the point. Picking on Lyons - an easy target - for being 'one of many' reacting the same way to Apple's fiasco is - yet another cowardly fanboy shot.
And that's a heck of an argument. Bookmark it. Go ahead. And remember that no excuse or supposedly humorous article can dismiss or hide the fact that Apple really blew it. Bookmark the piece to remind yourself how panicky everyone inside the RDF got. And why.
So all in all it's probably a good thing Gruber didn't write yet another immature fanboy hit piece for Jobstown. (It has to be shameful being Apple's phone phunk.) Otherwise the world outside the RDF would be laughing hysterically at him. Which of course they won't be doing now. As he never wrote that article. And like it or not, Lyons is an acknowledged writer. The kind Steve Jobs wants to support. Accept it or not, Gruber is a blogger - and no more. Apple would go to him?
Talk about illusions of grandeur. Good thing it's treatable.
Hardly the First Time
This isn't the first time Apple and Jobs have had their backs up against the wall. Major media sources like to cite the G4 Cube as the ultimate example. And it's a good example - the finish got cracked, otherwise the box was fine. But that was enough to burst the bubble. And the pundits would like to believe those cracks alone - and not the outrageously high price - doomed it.
But how far back do consumers' memories go? Do they go back to the spring of 2006? When Apple rushed their transition to
Ford Intel out the door a half year faster than scheduled? How many consumers remember how that went down? Were Jobs and Apple already obsessed with their secret iPhone project? To the extent their computer hardware started oozing thermal grease, oozing green Ghostbusters slime, making funny noises, shutting down randomly?
Anyone remember the apologies from Apple and Jobs back then? There weren't any.
Postscript: Lyons Quotes Gruber Doesn't Want to Include
The media are mostly in agreement about this anyway.
'Apple called a small group of hand-picked 'journalists' to the event to address mounting concerns about the antenna design in its new iPhone 4 which shipped in June.'
'The problem is that because the phone's antenna is embedded in its frame, your hand touches the antenna when you make a call. That can interfere with reception, to the point that in some cases calls get dropped. Earlier this week Consumer Reports declared it could not recommend the phone until Apple comes up with a fix for this problem.'
'Jobs' snotty tone made it clear that he was pretty fed up with all the whining about a problem that he says doesn't exist.'
'Apple is so arrogant that it still won't admit the obvious truth - that the design of the phone itself is the problem. "No other phone has ever put an electrically active antenna on the exterior of the device", says Richard Gaywood, a wireless networking engineer. Gaywood says that as an outsider he can't tell what the problem is 'but if I had to bet, I'd bet on it being a hardware problem they will never completely resolve for existing customers".'
'With the launch of iPhone 4, for example, Apple pretended it had invented video chat - something that has been around elsewhere for years.'
'Whether anyone will believe Jobs on this antenna issue remains to be seen. Apple would like to believe that it can just sweep the problem under the rug. But I'm not so sure.'
'Toward the end of the news conference, he blamed the media for blowing the problem out of proportion.'
'So Gruber, a blogger, is now one of Apple's handpicked JOURNALISTS? Apple must be really desperate.'
- 'Jan F'
The Technological: The iPhone 4 Antenna Coverup


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- Amazon is closing all of its 4-star, Books and Pop Up stores, a spokesperson for the company confirmed in an email to Retail Dive. The company will focus instead on its Amazon Fresh, Whole Foods Market, Amazon Go, Amazon Style stores and Just Walk Out technology.
- The company is working with impacted employees to identify new roles within Amazon, including placement in other stores. Employees who choose to leave the company will be given severance.
- "We remain committed to building great, long-term physical retail experiences and technologies," a spokesperson for the company said.
Amazon is shifting its brick-and-mortar focus.
The company's first physical location opened in 2015 with a book store in its hometown of Seattle, Washington.
It went on to open its 4-star concept, where everything for sale was rated 4 stars or better, in September 2018. It carried a variety of items including games, kitchen appliances and electronics. While stores were open to all customers, Prime members were able to purchase items listed for what it was listed for on Amazon's website.
The e-commerce giant also introduced its Pop Up stores, which featured a rotating experience of themes and brands.
Now all those locations are set to shutter so focus can shift to its grocery and fashion ventures.
Two big advancements in those arenas happened recently, with Amazon opening its first Whole Foods Market with cashierless technology in the Washington, D.C., neighborhood of Glover Park in February. The month prior the company launched its first physical clothing store, dubbed Amazon Style, which features women's and men's apparel, shoes and accessories and utilizes technology to merge online and offline operations.
Amazon's decision to close these physical stores comes as a surprise, according to GlobalData Managing Director Neil Saunders, who added that while the company's non-food stores had great standards, they "lacked a real purpose."
"While it is unusual for most retailers to abandon concepts in a wholesale fashion — especially outside of bankruptcy — Amazon is not a typical retailer," Saunders said in emailed comments. "It tries and tests ... new things, often committing reasonable levels of investment, only to move on if it doesn't see forward potential."

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We are now fully enveloped in iPhone season thanks to the arrival of the iPhone 14, iPhone 14 Pro Max and this iPhone 14 Pro in the office. It’s a great time if it’s a little busy, but we’re ticking off unboxings one by one. We have finally arrived at the iPhone 14 Pro.
Like all other iPhones since 2020, the iPhone 14 Pro comes with a single Lightning to USB-C cable.
Visually, the biggest update to the iPhone 14 Pro from the 13 Pro is the new Dynamic Island notch. Apple has seriously shrunk the physical cutout, but the new notch sits a bit lower and effectively takes up a bit of usable screen area, which the small slit on the screen above it doesn’t redeem. At least it looks better than the tired old notch.
The dynamic island
Apart from that, the iPhone 14 Pro brings a few notable upgrades over its predecessor. The display has become much brighter with a peak of 2,000 nits and is now smart enough to offer an always-on display option. It’s nothing like Android’s usual three lines of white text over a completely dark screen, and it’s more of a toned-down version of your iPhone’s home screen. We’re eager to see how that affects battery life.
The main and selfie cameras are better. The front-facing snapper finally has autofocus, while the wide-angle camera finally breaks 12MP resolution. It has higher resolution at 48MP, but the sensor is also larger at 1/1.28″.
It combines four pixels into one 2.44μm pixel and a resulting final image of 12MP. That means a narrower depth of field – more bokeh – more light – better night mode – better colors and, thanks to the new Photonic Engine, improved detail. You can even capture the full 48MP resolution through ProRaw.
New vs old – iPhone 14 Pro and iPhone 13 Pro
Our iPhone 14 Pro review is almost done – keep an eye on our website!


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Port Jefferson tackles congestion with PASSport resident rideshare
On May 12th, the village of Port Jefferson launched PASSPort, a luxury microtransit resident rideshare service, with Spare.
Port Jefferson, also known as Port Jeff, is a small village in Brookhaven, Suffolk County, New York. In the 1700s, it served as a busy trade port and ship building site. Today, it's known for having one of the largest commercial fishing fleets on Long Island. The village has around 8,000 residents with a relatively high average household income. As a result, vehicle ownership is also quite high and driving tends to be the preferred means of transportation for residents.
Due to its popularity as a tourist destination, Port Jefferson faces significant parking issues, especially around the main area near Port Jefferson Harbor. Tourists and ferry riders contribute to the high demand for parking, leading to congestion and overflow.
To lessen the parking congestion and personal vehicle reliance, the village of Port Jefferson has introduced PASSPort, a premium microtransit rideshare service, giving residents the option to leave their cars at home when traveling within the village and nearby destinations while also reducing congestion. The program was molded and is currently managed by Parking and Mobility Admin, Kevin Wood.
PASSPort is a luxury microtransit service, currently operating with one vehicle and offering door-to-door service and with the trip costing five dollars per rider. The service launched on May 12th, 2023 and runs on Friday and Saturday evenings from 4pm until 1am within the borders of Port Jefferson village. Residents are able to book rides directly from their phones using the PASSPort app, powered by Spare.
The deputy mayor of the village, Kathianne Snaden, shares that the new service is beneficial to both businesses and residents: “They don’t have to worry about bringing their cars down or about parking. They can get to and from in a safe manner, and it will additionally help the businesses in opening up parking spaces for the people coming in from outside the village”
PASSport is anticipated to make mobility more accessible for older residents who may not be able to operate a vehicle while also making for easier access to village beaches and downtown Port Jefferson.


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The Kia EV9 is Already the Brand’s Best-Selling EV
The 2024 Kia EV9 recently made its debut as a stylish all-electric midsize three-row SUV, and it’s shaping up to be a sales success. The Kia EV9 is now Kia’s best-selling EV just a few months after first hitting showroom floors.
Kia sold 1,408 EV9s in January, besting the far-more-established EV6 by nearly 200 units. EV9 sales were just shy of the Ioniq 5, the EV6’s corporate cousin and the best-selling EV across the Hyundai Motor Group, which includes the Kia brand. Sales of the Ioniq 5 were 1,465 units in January, just 57 more than the EV9. As such, it appears the EV9 is quickly on its way to becoming the top EV across HMG.
Over 1,100 EV9s sold in December 2023, its first full month of sales.
For perspective, the EV9 is still not an overall sales champ within Kia’s ranks. The EV SUV only outsold the Rio, EV6 and Stinger overall. Kia discontinued the Stinger following the 2023 model year.
However, the EV9 has strongly bolstered Kia and HMG’s percentage of all-electric vehicle sales. Kia sold just over 51,000 models in January, 5.1 percent of which were fully electric. Hyundai sold nearly 72,000 all-electric Ioniq 5 and Ioniq 6 models throughout 2023, representing nearly nine percent of its total annual sales.
Volvo, by comparison, reported its share of all-electric sales was just over three percent for January.
The EV9’s auspicious sales start is likely aided by its all-electric midsize three-row SUV status. It’s a relatively limited class, after all, and the EV9 is the only non-luxury player in the game.
The Tesla Model Y and Model X offer an optional third row, but the EV9’s rear seats are far more spacious. The same is true for the Mercedes-Benz EQB. The EV9’s starting MSRP of $54,900 also significantly undercuts the $84,000 base price of a Rivian R1S. The most expensive EV9, the GT-Line, starts at $73,900.
The EV9’s more budget-friendly pricing and family friendly third row (which isn’t offered in the EV6) makes it a compelling option for SUV buyers who require pragmaticism and zero emissions. It’s unlikely the EV9 will closely compete with the Telluride for overall sales given its EV powertrain and price, however.
The addition of the EV9 is likely to boost Kia’s recent surging overall sales. The brand reported 2023 annual sales of over 782,000 units smashed its previous yearly sales record, 2021, by 12 percent. Kia’s EV sales were up 41 percent last year.


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Contrary to the statements of Bitcoin Cash supporters who promised to create a better version of bitcoin, which will be popular as a payment tool, the cryptocurrency is barely used in commercial transactions. This is written by Bloomberg referring to the analysis of the Chainalysis company.
A study of 17 major processing services, such as BitPay, Coinify, and GoCoin, showed that the volume of payments using Bitcoin Cash fell to $ 3.7 million in May after reaching a peak at $ 10.5 million in March. With the help of bitcoin in May, payments were made for $ 60 million against $ 412 million in September.
Despite the aggressive promotion of Bitcoin Cash that caused some sources to call it a scam, it seems to fail to become number one cryptocurrency. Furthermore, current BTC dominance is increasing that makes Bitcoin Cash look even worse.
According to CoinMarketCap, current BTC share of the crypto market is 52,43% and the share of Bitcoin Cash is 4,37%.
The main idea of Bitcoin Cash was to become the means of payment in e-commerce. Currently, the adoption in e-commerce is low partially because of the concentrated ownership of the cryptocurrency. According to Chainalysis, about 56 percent of Bitcoin Cash is controlled by 67 wallets. Such situation could be normal if the owners of these 67 wallets were crypto exchanges, but they are not.
Earlier this year, we’ve seen the great attempt towards adoption of Bitcoin Cash in e-commerce through Amazon and the Purse service, which added Bitcoin Cash as a payment method.
Earlier this year, BCH was accused in fake decentralization and in low GitHub activity.
Difference between $BTC and #bcash #bcrash ???? Well, there you go…. pic.twitter.com/AZiUk8eMRc
— ⚡Darth Maul⚡ (@malimujo) July 15, 2018


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Palembang (ANTARA) - Vice presidential candidate number 02 Sandiaga Uno is a firm believer that South Sumatra's traditional fabric songket has all the elements to become a world-class product, taking into account the wide market.
"Gauging from the amount of resonance that songket has, it is all set to become a world-class product, with the use of organic colors, one of them being derived from jengkol skin," Uno remarked at a visit to Palembang's Ready-for-Work House, Friday.
Uno called for again reviving the development of the craft of weaving songket fabric by starting new business units, and its artisans should be able to earn independently by opening their businesses.
Uno expressed his discontent to the unfair practice of Songket fabric artisans being largely paid Rp200 thousand per piece, despite its market price reaching tens of millions.
"We will offer assistance in areas of marketing and funding for songket fabrics by the implementation of ready-to-work houses. It is high time that these artisans are also benefitted financially to boost their welfare," Uno reiterated.
Uno's agenda on being elected vice president is to incorporate the songket business under the Ok Oce program believed to have an open and equitable economic principle.
"Particularly now when we are in the era of digital economy, the traders are profiting, but the buyers are not bearing the burden due to simplification in the distribution chain," Uno elaborated.
Uno has outlined a target that the OK Oce and the Ready-for-Work Houses will help to create jobs for millions of youngsters in the subsequent five years.
"I believe that with Ready-for-Work House, we can reduce joblessness, and this is in no way merely a political promise," he emphasized.
The Ready-for-Work House program of Palembang comes under the agenda for the grand vice presidential campaign number 02 in the city.
Uno plans to address a gathering at the Sultan Convention Center Building, Friday morning. Following the Friday prayer, he will head to Lampung.


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Stresses on need to expand benefits of digital technology across the globe
New Delhi: India’s G20 presidency will be inclusive, ambitious, decisive, and action-oriented, Prime Minister Narendra Modi said on Wednesday.
Speaking during the closing session of the G20 Summit in Bali, the Prime Minister said: “India is taking charge of the G20 at a time when the world is simultaneously grappling with geopolitical tensions, economic slowdown, rising food and energy prices, and the long-term ill-effects of the (Covid) pandemic. At such a time, the world is looking at the G20 with hope.
“Today, I want to assure that India’s G20 presidency will be inclusive, ambitious, decisive, and action-oriented.”
He further said that in the next one year of India’s presidency of the G20, it would be ensured that the forum acts as a global prime mover to envision new ideas and accelerate collective action.
“The sense of ownership over natural resources is giving rise to conflict today, and has become the main cause of the plight of the environment. For the safe future of the planet, the sense of trusteeship is the solution.
“LiFE i.e. ‘Lifestyle for Environment’ campaign can make a big contribution to this. Its purpose is to make sustainable lifestyles a mass movement,” he told the gathering of world leaders on the last day of the summit.
India will assume the G20 presidency from Indonesia on December 1, 2022, which will continue till November 20, 2023.
The Prime Minister further said that “without peace and security, our future generations will not be able to take advantage of economic growth or technological innovation.
“The G20 has to convey a strong message in favour of peace and harmony. All these priorities are fully embodied in the theme of India’s G20 Chairmanship — ‘One Earth, One Family, One Future’.”
‘Need to expand benefits of digital technology across the globe’
Earlier while addressing a session on digital transformation , Prime Minister Modi said that the proper use of digital technologies can become a force multiplier in the decades-long global fight against poverty.
Underlining the need for expanding the benefits of digital technology across the world, PM Modi said that during India’s presidency of the G20 — which will commence from December 1 — it will work jointly with G20 partners towards achieving this objective.
Citing the benefits of digital technology during the Covid-19 pandemic, Modi said: “Digital solutions can also be helpful in the fight against climate change, as we all saw in the examples of remote-working and paperless green offices during Covid.
“But these benefits will be realised only when the digital access is truly inclusive and when the use of digital technology is really widespread.”
He however noted that it is the responsibility of all G20 leaders to ensure that the benefits of digital transformation should not be confined to a small part of the human race.
Here the Prime Minister shared India’s experience of the past few years of making digital architecture inclusive and how it has brought about a socio-economic transformation.
“Digital use can bring scale and speed. Transparency can be brought in governance. India has developed digital public goods whose basic architecture has in-built democratic principles,” Modi told the gathering of world leaders.
He further said that India has made digital access public, but noted that at the international level, there is still a huge digital divide as citizens of most developing countries of the world do not have any kind of digital identity.
“Only 50 countries have digital payment systems. Can we take a pledge together that in the next 10 years we will bring digital transformation in the life of every human being, so that no person in the world will be deprived of the benefits of digital technology,” the Prime Minister added.


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Container shipping striking a balance?
Date: Tuesday, February 27, 2018
Source: American Shipper
The international shipping organization BIMCO said 2018 may just be the year in which container shipping growth and demand growth are the same.
Peter Sand, the chief shipping analyst for the Copenhagen-based organization, also believes the U.S. East Coast may see more big ships as container carriers increasingly take advantage of the new locks at the Panama Canal, which opened in June 2016.
“Overall demand growth is expected to be lower than in 2017, but still high enough to potentially improve the fundamental market balance,” Sand said. “BIMCO forecasts demand to grow by 4.0-4.5 percent against a fleet growth of 3.9 percent in 2018.
“Watch out for the North American inbound loaded containers where we expect a change in 2018,” he added. “We saw very strong growth in 2016 and 2017 for the U.S. West Coast imports, and in 2015 and 2017, for the U.S. East Coast imports. We have yet to see the full effect of the elevated Bayonne Bridge, allowing ultra-large containerships to pass and enter the New York/New Jersey port.
“For the whole of the U.S. East Coast in 2017, the amount of inbound loaded containers grew by 10.1 percent," Sand said. "It took the industry a while to embrace the expanded Panama Canal locks - but they are making use of them now. 2018 is likely to be the year where many container line networks calling the U.S. East Coast will become fully up-scaled by deploying ultra large containerships.”
While freight rates fell between August and the end of 2017, most liner companies succeeded in pushing rates higher in early January 2018, Sand pointed out.
"Liners were the most successful at maintaining higher freight rates on the U.S.-bound trade lanes, both east and west coast," Sand said. "On the other high-volume trades into the Mediterranean and North Europe, the announced general rate increases (GRI) lifted freight rates too, but to a smaller extent.”
Sand said that at the start of 2018, China instituted a ban on 24 types of waste products, including waste paper and waste plastic, which has big implications for the transpacific backhaul trade. According to MDS Transmodal, 1.46 million TEUs of pulp and waste paper moved from North America to Asia in 2017, and according to Drewry, 4-5 million TEUs could be affected by the Chinese ban, Sand said.
While other countries - including Indonesia, Taiwan and Vietnam - may continue to accept those products, he said China has greater capacity to handle such waste products.
As far as supply is concerned, Sand forecasts 1.05 million TEUs of capacity on containerships will be added in 2018 and about 250,000 TEUs will be demolished, as opposed to the 398,000 TEUs demolished in 2017. That will result in a fleet growth of about 3.9 percent this year.
Click here to read the entire article from the original source.
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Hitman 2 is almost here and to celebrate a new launch trailer has released. Featuring actor Sean Bean, this live-action trailer focuses on the different creative weapons available in-game. You can check out the new trailer below in all it’s chaotic, brutal glory.
This series has never been a stranger to forcing players to improvise weapons on the spot. The previous Hitman title featured a plethora of unique items and outfits that Agent 47 could use against the A.I. During our one hour demo of Hitman 2, we saw a number of different items we could use to slay our foes. It’s clear that IO Interactive is focusing on giving players a more robust system to take out targets. This franchise has always relied on strong replayability and it’s clear that Hitman 2 is following in these footsteps.
For the unfamiliar, Sean Bean was recently confirmed to be the first Elusive Target of Hitman 2. Bean will be portrayed as a rogue MI5 agent known as Mark Faba. Like previous Elusive Targets, users will only have one chance to track and kill Faba, otherwise, the mission will become unavailable.
Hitman 2 is scheduled to launch on November 13 for Xbox One, PS4, and PC


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SA dairy farmers knocking on Murray Goulburn’s door to protect their industry
Adelaide Advertiser 13 May 2017. Belinda Willis, Rural Editor
WHEN John Hunt walked into the Melbourne office of maligned milk processor Murray Goulburn earlier this month, it was a tough ask.
It came just a day after Murray Goulburn’s management team announced the closure of three manufacturing facilities in Victoria and Tasmania at a cost of 360 jobs.
It also said it would suspend dividend payouts and abandon plans to claw back payments from dairy farmers.
While the news was good for South Australian farmers, the SA Dairyfarmers Association chairman knew three communities would be reeling from the announced closures.
Then there was the emotional baggage of representing dozens of SA dairy farmers still struggling with Murray Goulburn’s decision 12 months ago to suddenly slash their payments – and being among those directly affected.
“When they came out with the announcement it was a relief that someone had finally made a decision and taken a direction, it feels like it has been a rudderless ship for the last 12 months,” says Mr Hunt, who milks 600 cows near Mount Gambier, supplying Murray Goulburn for the past 10 years.
“But the first thing I felt was for the families and the towns, we know what it’s like to live in a small community.”
It’s been a tumultuous year that the state’s dairy farmers hope to never experience again.
There’s been an Australian Competition and Consumer Commission (ACCC) inquiry into the dairy industry launched and an accompanying upswell of consumer support.
Then last month, the competition watchdog announced it was taking Murray Goulburn to the Federal Court, alleging the co-operative misled farmers about prices it would pay for their milk before announcing a shock cut to the price in 2016.
As the dust settles — not only for the 50 or so SA dairy farmers still supplying Murray Goulburn but for all 220 operating in the state — Mr Hunt thinks it may at least yield positive results.
“When consumers got behind us and started buying branded milk it gave us a lift because you knew you weren’t just sitting there on your own, farmers are very proud people and they don’t like to come and say publicly that they are struggling,” he says.
“(There’s been some decisions made) and now the global dairy auction has also lifted so our export price should lift, there’s hope on the horizon that things are on the way up.”
ACCC Commissioner Mick Keogh is well aware of the past year’s struggles after overseeing eight dairy forums around Australia and receiving thousands of documents from dairy processors and the three major supermarket retailers since the ACCC inquiry started in November last year.
He is now wading through documents with plans to have a report with recommendations ready by November 1.
“The Murray Goulburn announcement is good news and was welcomed by farmers but we have the message loud and clear to make sure those things don’t happen in the future,” he says.
SA Dairyfarmers chief executive Andrew Curtis – who met Murray Goulburn’s new chairman John Spark and chief executive Ari Mervis alongside Mr Hunt – acknowledges there are no quick fixes when supermarkets are still selling milk for $1 a litre and cheese for $6 a kg.
The prices don’t come near to covering costs.
“But it’s reassuring to have it acknowledge that something appears to have happened,” he says.
“And it’s good to see that there’s now someone in control of Murray Goulburn and making business decisions with a view to having the business moving forward.
“(At our meeting) they were there and they were listening and they were making decisions.”
As the focus on the state’s dairy industry sees farmers look for new supply models with retailers and processors, some are already ahead of the game.
At Nietschke Moppa Estate, farmer Jamie Nietschke is spreading risk by growing grapes on his Barossa property and negotiating more creative contracts.
The farm milks just over 200 cows year round and Mr Nietschke says in the past year his business model has helped shield his family from industry fluctuations.
Some of the milk goes to the Barossa Valley Cheese Company in Angaston but most is sold to Woolworths and the Farmer’s Own brand through a model where he supplies direct to the retailer through the Barossa Mid North Dairy Group co-operative.
The group of 14 dairy farms managed to directly negotiate a higher, fixed minimum price for three years.
“For us it’s been a real win, but we certainly feel for the Murray Goulburn suppliers and the pain they have gone through, something needs to change in the supply model,” he says.
“At the moment, farmers are largely getting the raw end of the deal, we are at the bottom of the food chain so to speak despite us being the suppliers of the food chain.”


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The inside scoop at Hung WonAli Carte Columns
June 22, 2014
Story By: Ali Resich | Photos by: Nathalie Walker
When Kevin Li and two of his uncles decided to open Hung Won Seafood Restaurant on March 23, their goal was to serve the community with upscale Cantonese-style cuisine. By staying away from heavier dishes and preparations, Li and his team are succeeding with a traditional approach to cooking.
“I know a lot of people think, ‘Oh, Chinese food is not that healthy,'” Li says, “but we use a lot less oil and the seasonings are lighter, so it’s healthier that way.”
Li’s uncles Juwei and Guanqiang Ruan run the kitchen at the Kaimuki eatery, and as former chefs at authentic Chinese restaurants, both of them bring more than 20 years of experience to Hung Won’s table.
While the establishment has only been open for three months, its menu has already made a lasting impression on customers. According to Li, there are even more delectable specials for diners to take advantage of that aren’t listed on the dine-in and takeout menus. Below, he shares these hidden treasures with Dining Out readers.
Kau Yuk ($13.95) is a Cantonese specialty that most people won’t take the time to prepare at home because it requires a laborious cooking process. Diners who need their fix of it can stop into Hung Won, where Kau Yuk is made the traditional way.
First, pork is cooked in boiling water and then deep-fried. The next step is to tenderize the skin for three to four hours to allow the meat to absorb flavors throughout the cooking process. Then, the excess oil is removed and the pork is cleaned before it’s stewed once more with a blend of five Chinese herbs and spices, as well as oyster sauce and sesame oil.
“It turns out to be a really delicious dish,” says Li, noting that Kau Yuk comes with a choice of taro or mui choy (salty, preserved Chinese cabbage).
Another gem not listed on the menu is BBQ Ribs ($9.95 per pound), complete with a dose of Chinese flair. The rib marinade resembles char siu, resulting in mouthwatering meat that takes on flavorful hints of honey and spices. Hung Won prepares BBQ Ribs every day, as one taste is enough to turn any ribs craving into a full-blown obsession.
Be sure to ask about Lap Cheong with String Beans ($9.95) when visiting the restaurant as well. Like many of the menu items, this sharable dish is great for family-style get-togethers. Sweet and savory bites of lap cheong sausage are stir fried with crisp string beans, carrots, mushrooms and oyster sauce.
Now that you’re in the know, you’ve got to reveal these secrets for yourself.
Hung Won Seafood Restaurant
3434 Waialae Ave. (Between 8th and 9th Avenues)
Daily, 10 a.m.-9 p.m.


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To see why foreign manufacturers love Kenya, cross Moi Avenue in Nairobi from Jazz restaurant, squeeze through the mobile airtime shops and porn video vendors, and you will reach Tom Mboya Street.
On your left, stands a glossy clothes shop full of young ladies trawling for latest fashions.
Jade is owned by a local investor, and that’s about the only thing Kenyan about it besides the hustle and bustle outside this tough side of downtown Nairobi.
All its merchandise – from the G-strings to sleek suits, have a deliberate foreign ring to them.
As local manufacturers – for instance, clothes and footwear companies – struggle, the fortunes of those peddling foreign stuff have been rocketing.
The appetite is rising, fuelled by a raging middle class, and more foreign companies are making a beeline to satisfy this tastes, including roofing companies from Turkey vying for the construction industry.
A transport and commercial hub in Eastern Africa, Kenya has emerged as a fertile hunting ground for foreign-made products, increasingly tilting the trade balance in favour of imports.
Other countries are foraying into the domestic market through delegations and trade exhibitions. Late January, a Russian business delegation visited Kenya to explore trade opportunities.
In March, Brazilian companies will showcase their prowess in agribusiness and renewable energy during the Brazil East African Community expo, with a direct bearing on the trade balances.
In 2009, for example, South Africa’s imports stood at Sh70 billion while Kenya’s exports to that country were valued at only Sh3.5 billion.
“Kenyans prefer imported food due to its high quality and low price compared to what is produced in the country,” says Bilha Rae of Magna Foods, a Nairobi based restaurant.
Ms Rae says spaghetti is one of those products enjoying good ratings in the country. “Due to lack of enough wheat for production Kenya will continue to import,” explains Ms Rae.
According to Central Bank of Kenya records between January and September 2010, Kenya’s exports totalled Sh395.6 billion, compared to Sh926.4 billion in imports.
Though Kenya is an agricultural economy, there’s a huge presence of products like eggs from South Africa and tomatoes from Spain.
With increasing urbanisation, and changing lifestyles boosted by technology and innovation, imports have gained a competitive edge through value-addition and packaging.
Even handicraft, which Kenya dominated a few years back, is shifting to Asia, especially China, Taiwan and Korea.
“What has made us survive, especially in the US market is our established brand name,” says Ecosandals’ international sales representative George Odhiambo. Ecosandals makes used-tyre sandals, know as akala, for both local and export markets.
While it takes the Kariobangi South light industry, Kenya’s answer to the global copycat industry, a day to produce 30 pairs of footwear, China produces millions given its technological advancement.
“China is going after a share not only in foreign markets but also in its domestic market,” says Mr Odhiambo. Besides, high cost of production like electricity and labour has slowed penetration of Kenyan goods in foreign markets.
“From production of a pair of sandals to the time the delivery is made in US, the cost will be Sh1,200 and so you have to sell at Sh2,400 to make a profit, but Chinese-made sell at a cheaper price,” he says.
Mr Chacha Nyangi, director of external trade at the Ministry of Trade attributes the low growth in exports to the high cost of production.
“The Common External Tariff is reviewed every year to give Kenyan goods preferential treatment over imports but the cost of production is still so high that those imported have a competitive edge due to their low price,” he said.
For Kenyan exporters to compete in foreign countries, the Export Promotion Council sources for buyers and transaction management.
Due to lack of diligence, says Mr Peterson Nyachwaya, the council’s manager in charge of trade policy analysis, some exporters enter into lopsided agreements that increase their cost, ultimately raising the cost of goods.
Though trade has been identified as a key driver of industrialisation and anchored in Vision 2030, most of Kenyan goods are semi-processed, less diversified and concentrate in a few markets.
Prof Henry Bwisa of the department of human resources at Jomo Kenyatta University of Agriculture and Technology attributes this to lack of a policy that can stimulate growth manufacturing.
“Technology to add value is there,” he says, “ but what is lacking is a policy to give incentives to the players in the respective sectors to improve that.”
As more of the world experiences globalization, including Africa expect to see a growing taste for all things foreign especially from a growing middle class. That is just the reality and natural course of development. Name brands that were unavailable, out of reach due to economics are now achievable as more and more Africans move up in the world. Kenyans are no exception.


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A year of return for tourism? | Editorials
A St. Joseph resident who has been to Kansas City may have noticed something familiar about the big city buses.
Ads on the side of Kansas City public buses showed the familiar Pony Express logo and the Wyeth Tootle Mansion, among other landmarks. Other buses showed the downtown skyline of our city with a message “Explore St. Joseph’s Heritage”.
Even the most self-defeating St. Joseph resident should admit that this promotion has made our town a great place to visit. That’s the point.
An entity called Adsposure agreed, giving the St. Joseph Convention & Visitors Bureau a Top Transit Award for its ads on four Kansas City buses. The CVB campaign beat out 106 nominees, including larger markets like Chicago and Dallas, in the “biggest impact” category.
“This is a testament to the strength of CVB’s marketing initiatives and the rich history and heritage that St. Joseph offers travelers from across the region,” said Bob Frohoff, executive director of Adsposure.
“It’s good for them,” the inhabitants of Saint-Joseph might say. It’s true, the CVB should feel a sense of accomplishment. Everyone likes to feel recognized in their profession.
But really, the reaction should be, “good for us.”
It’s no secret that tourism has been hit hard by the COVID-19 pandemic, with health concerns and travel restrictions and large gatherings dealing a heavy blow to museums, concert halls, restaurants and hotels.
It doesn’t just hurt the CVB or sales tax collections that benefit St. Joseph and Buchanan County. The Economic Policy Institute found that job losses from February 2020 to February 2021 were greatest among workers in the leisure and hospitality, government, education and health services sectors. A year into the pandemic, the leisure and hospitality sector has faced the biggest jobs gap, with nearly 3.5 million fewer jobs in February 2021 than a year earlier. former.
These are not workers who were deemed “essential” and were able to stay on the job during the height of the COVID-19 lockdowns. But they are surely essential to the local economy and certainly to their families.
So if you ever come across an ad like this in Kansas City, consider it more than just a marketing campaign designed to entice Kansas City consumers to spend more money in St. Joseph.
It’s a sign of better days ahead for the tourism industry and hope for a recovery in 2022 that will do more than raise St. Joseph’s profile or boost museum and restaurant results.
This will benefit workers and small businesses that rely on the tourism industry to thrive again.


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Mubasher: Ford-majority owned self-driving vehicle unit Argo AI on Wednesday launched its new fleet of autonomous cars for testing in Detroit, Reuters reported.
The new Ford Fusion Hybrid vehicles are equipped with upgraded sensors, including high-resolution cameras and wide-range radars, the US auto giant was cited by the news agency as saying.
The latest launch would expand Argo’s presence in five US cities, as it already runs in Pittsburgh, Palo Alto, Miami, and Washington DC.
In the same vein, Ford is in talks with Volkswagen (VW) to make driverless vehicles, as its autonomous division seeks investment and engineering expertise with its peers and tech pioneers.
Argo’s test launch came at the time when auto manufacturers and tech companies around the world are racing towards developing autonomous technology.
General Motors’ (GM) Cruise robo-taxi unit Aurora recently partnered with Fiat Chrysler Automobiles (FCA), while companies, like Alphabet and Uber, are also investing in their self-driving ventures.


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Communities can delay but not opt out of pot shops, says Ontario government
Ontario’s Ministry of Finance says that if a community is selected to host one of the cannabis shops it could delay hosting the store but cannot completely opt out of having it.
December 8, 2017 By The Canadian Press
Earlier this week, a committee of the City of Richmond Hill unanimously endorsed a statement saying it was not willing to host one of the retail stores.
The Liquor Control Board of Ontario, which will run the shops through a subsidiary, hopes to open its first batch of 40 stores by July 2018, when the federal government’s legislation to legalize and regulate recreational marijuana use is expected to come into effect.
The province plans to set up approximately 150 stand-alone cannabis stores by 2020.
Ontario was the first province to announce a detailed plan to sell and distribute recreational marijuana and will set the legal age to purchase it at 19.
Print this page
- Canopy Growth enters into supply and production agreement with Newfoundland & Labrador
- Finance Minister Bill Morneau talks pot bucks with provincial counterparts


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Bill Gates bags £120m payout
BILL Gates is set to bag nearly £120m - before tax - after Microsoft, the software giant he founded, unveiled plans to double its dividend to shareholders.
The company said it would pay 16 cents a share for fiscal 2004, only its second dividend since it listed in 1986. It will pay the dividend on 17 October - an early birthday present for multibillionaire Gates, who turns 48 on 28 October.
Gates has been selling shares of late but still holds nearly 11% of the company.
Microsoft, a component of the blue-chip Dow Jones Industrial Average, slipped 47 cents to $27.37 in pre-market trade.
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Mary Meeker, renowned technology soothsayer and partner at venture-capital firm Kleiner Perkins Caufield & Byers, presented her annual “State of the Internet” report at D: All Things Digital Conference in Rancho Palos Verdes, Calif. on Wednesday, and as usual it was packed with insight. As her analysis deals with the technology markets and their impact on society as a whole, Ms. Meeker’s predictions did not address UC per se. However, as most trends in enterprise adoption of technology start in the consumer space, much of what she has to say will likely “trickle down” to the office at some point.
If there was one theme that seemed to weave its way through the presentation it was “mobile connectedness.” People are expecting to have access to the internet continuously, and to do that Ms. Meeker noted, “We’re moving in the cycle of wearables, driveables, flyables and scannables.” Worldwide Internet users grew eight percent between 2012 and 2013 with the bulk of that coming from the developing world; U.S. Internet users grew three percent while Iran grew 205 percent.
Google topped the list of Internet properties with 1.1 billion unique visitors per month followed by Microsoft with around 850 million, Facebook with 825 million, and Yahoo with a respectable 700 million. One of the more interesting comparisons I found was the willingness of people in different countries to share their lives online. In a worldwide study that asked users if they shared “everything” or “most things” online, Saudi Arabia came in first with 60 percent followed by India with just over 50 percent and Indonesia with an even 50 percent. The U.S. actually came in 15th with just 15 percent answering in the positive, well below the world average of 24 percent. You can’t generalize around regions either; South Korea came in fourth with 40 percent positive responses where Japan came in last with under 5 percent.
For the moment the biggest element of that sharing is photos. Fewer than 400 million photos were uploaded in all of 2012, but almost 550 million have been uploaded thus far in 2013, so we’re on track for better than a 2x increase. Facebook and Instagram account for almost 400 million of the 2013 total, though Snapchat (which allows users to set a timer on when their photos will disappear) saw their total jump from around 50 million in 2012 to 150 million thus far in 2013. On the video front, YouTube saw the number of hours of video uploaded per minute jump from around 70 hours in 2012 to 100 hours in 2013.
With the move to mobile social, global mobile traffic grew from 1 percent of Internet traffic in 2008 to 15 percent in 2012 with the expectation it will reach 20 percent this year and 25 percent next year. In China, the world’s largest population of Internet (564 million) and mobile phone (1.15 billion) users, the percentage of users accessing the Internet using mobile phones is expected to surpass desktops this year. Morgan Stanley estimates there are currently 1.5 billion smartphone users worldwide but that could grow to 5 billion or more in the next year.
On the larger device front, tablets are clearly weighing down the PC market. Comparing the sales in the first 12 months after introduction, Apple’s iPad sold more than twice as many units as the iPhone. It is likely the case that the iPhone “greased the skids” for iPad adoption having opened consumer’s minds regarding what they could expect on a mobile device, but Morgan Stanley shows shipments of desktops and laptops dropping by 15 million from 2011 to today.
Like many of us in the mobile space, Ms. Meeker is predicting the next wave in mobile to be “wearables, driveables, flyables and scannables,” in effect things that will tie our lives even more closely to the mobile connected experience. Whether it’s Google Glass, a smartwatch, or a unit in your car, your smartphone can stay in your pocket or your purse and not only keep you connected, but keep you in touch with your environment. Of course Detroit is going to have to come up with a reasonable solution to the problem of integrating consumer electronics that we keep for two years with a car that we may keep for 10.
Ms. Meeker is also very positive on the energy that the younger generation is bringing into the business world, and they are coming at it with a whole different worldview than their parents. Where our generation was shaped by the cold war, Vietnam, the civil rights movement, and the status of the U.S. as the supreme superpower, the next generations were shaped by 9/11, the financial crisis, rising unemployment levels, the growth of China as a super power.
The thing that always impresses me about Ms. Meeker’s research is that it gives background and context to things that we see going on around us and makes solid projections on where those trends will take us. More than that, it goes beyond technology trends to merge social developments to give real depth to her predictions. Finally, she takes a whole world view of what’s occurring and is not afraid to say that not every big idea is going to come from the U.S. or Western Europe. This is someone who’s always worth listening to.


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JACKSONVILLE, Fla. -- Porsches are the cars dreams are made of and now the automaker is making a surprising amount of those dreams true.
Sales are the best they've been in a long time.
"Most of it can be attributed to the roll-out of new products the Panamera and the Cayenne," said Brandon Starks, general sales manager at the Jacksonville dealership.
The base price of the Panamera, a four-door sedan, is about $74,000. On the Cayenne, a sport utility vehicle, base price is about $57,000. The Cayenne has been selling at a "torrid pace," according to the company's advertising.
"Porsche keeps launching products that people, one, enjoy driving and two, the new products are more practical than they were before so the fit into lifestyles," added Starks.


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Your supervisors, over the years, have probably learned some behaviors that don’t fit well with lean practices. A more pointed way of saying that is, you’ve taught your supervisors behaviors that don’t fit well with lean practices.
The National Highway Traffic Safety Administration said it has opened a preliminary investigation after several incidents, including a fatal accident last January.
Faulty locks on some CR-Vs and Acura ILX sedans could allow the vehicles' doors to open unexpectedly, according to Honda.
Wichita manufacturer deploys World Class Manufacturing methodology in pursuit of zero losses.
The European Medicines Agency found deficiencies related to Roche's global process of detecting and reporting the adverse effects of medicines.
APQC identifies eight 'imperatives' to building quality across an organization.
Honda of America Manufacturing CEO Hidenobu Iwata and other Honda managers offer an inside look at Honda's unique manufacturing model -- and how Honda manages its most valuable asset.


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M&S to expand franchised stores in Saudi Arabia
Alhokair aims to open ten new stores in Saudi Arabia by April 2015, following the success of the opening of M&S's first stand alone Lingerie and Beauty stores this March. The first two franchise stores are set to open this summer and include a 930 square meter shop in Jeddah, which is slated to open its doors in August and a 1,700 square meter store in Riyadh that will open in September.
Two additional Lingerie and Beauty stores will also be opened in the country this fall, one in Medina and in Jeddah. The company aims to open a further six Lingerie and Beauty stores in Saudi Arabia by the end of this financial year. “Lingerie & Beauty draws on the rich heritage and unique position which Marks & Spencer enjoys within the intimate apparel market - they continue to have the highest market share in the UK, with strong growth internationally,” added Marshall.
According to the 'Apparel in Saudi Arabia' country report from Euromonitor International, there is a growing influence of Western culture in the country due to rising use of internet and satellite television, which has led to a bigger focus on Western fashion. Combined with the increasing rates of women's participation in the labor force, more women are purchasing formal work wear and outerwear, with leading brands in the country becoming more and more international.
M&S to open first store in Azerbaijan
Alhokair is also set to open M&S's first store in Azberbaijan's luxury Baku Mall. The 1,700 square meter flagship store will open its doors this autumn and is set to offer the department store full product assortment. “Our franchise partnerships are central to our international growth strategy,” points out Mark Koprowski, Marks & Spencer's regional director for the Middle East and CIS.
“As one of the world’s leading retail operators, Alhokair offers us extensive retail expertise, local knowledge and access to some of the region’s prime shopping destinations. Through our successful partnership, we’re delighted to continue to build our presence in Saudi Arabia and the Caucasus to bring more of our quality, stylish fashions to customers across the region.”
The franchise retailer has worked with M&S since 2011, and currently controls 19 franchise stores across Kazakhstan, Armenia, Georgia and Saudi Arabia.


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The 2018 Winter Auction hosted by Goldin Auctions features a Super Bowl ring that was ordered by a member of Tom Brady’s family.
The Holiday Auction hosted by Goldin Auctions was lead by the sales of a Stephen Curry game used jersey and a Gordie Howe rookie hockey card.
Filled with historical artifacts from sports, entertainment and history, the Holiday Auction hosted by Goldin Auctions has something for everyone.
In a recorded-breaking auction hosted by Goldin Auctions that ended Nov. 11, four Mickey Mantle items sold for a combined $332,991.
Baseballs featuring signatures of current and past MLB players to celebrate Springfield of Dreams “Homer at Bat” 25th anniversary being auctioned.
Mickey Mantle and Babe Ruth lead the way of historical items available in the 2017 Goldin Auctions’ October Legends Auction.
Jackie Robinson’s original baseball contracts will be sold at a live auction hosted by Goldin Auctions on Nov. 16 at the Jackie Robinson Museum.
One hundred percent of the proceeds from a special upcoming Hurricane Harvey Relief Auction will be donated to the American Red Cross.
It has been announced that hobby veteran Jim Stefano has joined Goldin Auctions to be its director of Marketing and Business Development.
Goldin Auctions’ current auction features game-used jerseys from past-great Hack Wilson and budding superstar Aaron Judge.


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The new Riello Elettronica website is online
Riello Elettronica, a company which is part of the Family Company Riello Industries, is pleased to announce the arrival of the their new website, completely renewed in order to offer their customers and visitors a simple yet captivating browsing experience using intuitive and rapid search tools.
A stylish and essential approach to the new project has been chosen leading to the creation of a revamped web layout that remains true to the current corporate image of the company.
The explosion in the use of mobile devices and Riello Elettronica's innovative approach to their communications methods has made the use of the most advanced programming techniques, leading to responsive “Web Design”, essential: this allows the users to display and browse through the site on the screen of any form of mobile device, tablet or smartphone they wish to use whilst keeping the focus firmly on the fundamental content.
The new interface offers great rendering performance on the most modern browsers, rapid display times and backward compatibility with older browsers.
To continue following all Riello Elettronica's news please visit www.riello-elettronica.com


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Venture January 2020
The new year has begun with lots of positive developments. Firstly, Brigid McKeown has joined the team as Venture Solutions Manager. Her role will involve supporting both our portfolio companies and our own internal operations. Brigid joins from Mastercard Labs, where she was Programme Coordinator for Start Path, Mastercard’s global startup engagement programme. We also will be launching our first deal of the year to the Elkstone Venture Club imminently, so keep an eye out for that.
Paddy Dillon is a Venture Analyst at Elkstone.
VENTURE CLUB COMPANY NEWS
Meal kit company Gousto has partnered with The Meatless Farm Co to deliver consumers more plant-based meals in the UK. These new plant-based options will add to Gousto’s portfolio of over 40 recipes each week and marks the first time that Meatless Farm products will be available through a recipe box service. Read more here.
Online food ordering platform Flipdish has been included, and highlighted as a ‘startup to watch’ in a definitive international report on The Future of On-demand Food Delivery compiled by Sifted an online publication backed by The Financial Times. Download the full report here.
Manna has partnered with Cubic Telecom for Irish drone food delivery plans. Together, the telecoms business and the drone startup are collaborating with the end goal of launching a new high-speed food delivery service in the US and Europe. Read more here.
Founders of Dollar Shave Club, Warby Parker and other billion-dollar companies exploited giant rivals’ weaknesses — and really listened to their customers. Read more here.
Here’s an interesting Podcast for you to listen to on your commute into the office or on your morning jog. Hear what Patricia Scanlon has to say as the CEO and founder of Soapbox Labs, the leader in automated speech recognition for kids. Here is the link to the podcast.


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For U.S. consumers, Thanksgiving is still two months away. At grocery chain Tops Markets LLC, Jeff Culhane was shopping for turkeys last winter.
Tops and other U.S. supermarket operators started purchasing turkeys, spices and cranberry sauce early this year, aiming to avoid shortages that left some store shelves empty in 2020. Grocery chains are struggling with supply-chain challenges ahead of what is typically their busiest time of the year, and some executives said they are preparing for consumers to host larger gatherings than they did late last year—though it is becoming less clear how people will spend holidays as the Delta variant drives Covid-19 cases higher.
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60% off running shoes and apparel at Nike


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The Zimbabwe International Trade Fair will be held from the 24th to the 28th of this month in Bulawayo. In line with this event, ZITF has made an app that will help people attending the event navigate their way around the stands and also know when which sessions will be held.
The load times are frustratingly slow but once the loading screens are out of your way and you are ready to roll the app proves itself to be a must-have if you are attending the ZITF. Here are some cool features that will come with the app.
The app has …read more
Read more here:: Techzim Feed


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Complaints about pay day loan middlemen – alleged credit broking sites – do have more than doubled within the last few year, relating to brand new numbers.
The Financial Ombudsman provider (FOS) stated it turned out contacted by a lot more than 10,000 individuals since this year january.
Into the worst situations, customers discovered a huge selection of pounds ‘drained’ from their bank records because of the internet sites.
The credit agents have formerly insisted that a lot of clients are content with regards to solutions.
Nonetheless, one financial obligation charity is currently calling when it comes to up-front costs they charge become prohibited.
The credit broking web web sites are created to help individuals get the cost effective loan with their requirements.
Nonetheless they also can charge hefty costs.
But, in accordance with the FOS, numerous Д±ndividuals are unaware they are utilizing a brokerage, instead of a loan company itself.
Being a total outcome, they easily enter their banking account details.
But rather of receiving a quick payday loan, these are typically charged broking, or account costs, as high as Р’Р€100.
Banking details in many cases are offered to many other internet sites, and thus some individuals have now been charged times that are multiple.
One girl had been charged Р’Р€70 by ten different websites, losing Р’Р€700 in the act.
The FOS stated that numerous of those impacted already are struggling economically. And several never ever actually get the loan they require.
“In a lot of for the instances we straighten out, no loan is provided and folks’s bank records happen charged a fee that is high usually numerous times,” stated Juliana Francis, the senior Ombudsman.
Your debt charity StepChange would like to look at training of billing account costs in advance made illegal.
“that is a well-known issue, however it will continue to worsen,” stated Peter Tutton, your http://online-loan.org/payday-loans-ga/alamo head of policy at StepChange.
“the full time has arrived for federal federal federal government and also the regulator to ban credit agents from billing up-front charges,” he added.
The industry regulator, the Financial Conduct Authority (FCA), stated it absolutely was conscious of the Ombudsman’s report, but wouldn’t normally touch upon any feasible intends to investigate the sector.
The Office of Fair Trading (OFT), credit brokers have to make their charges clear to consumers under rules published by the previous regulator.
One of the most credit that is popular web internet internet sites are businesses like Smart Loans, Secure my Money, and Loans Zoo.
None might be reached because of the BBC.
Callers to two telephone numbers formerly given by one company now hear just music that is classical.
However Paul Williams, a director of Click4profit, which has Smart Loans, has formerly said that many clients are content with its solution.
He additionally agreed to issue refunds to anybody who is unhappy.
The Smart Loans web site causes it to be clear so it “compares various types of customer finance choices”, although visitors to its front side page aren’t warned about costs.
The FOS stated that a lot of regarding the sites refunded the bucks the moment they learnt that the Ombudsman ended up being involved.
Pay day loan complaints
In a different report, the ombudsman additionally stated it was investigating 794 consumer complaints about payday lending within the 2013-14 economic 12 months, up 46% weighed against the prior year. A complete of 660 complaints were remedied, with very nearly two thirds upheld.
Nevertheless, the FOS stated that the amount of complaints would not mirror the genuine scale regarding the issue for customers, as much phone phone calls to its helpline failed to bring about formal complaints.
Juliana Francis, senior ombudsman, said: “we have been maybe maybe maybe not seeing the volumes of pay day loan complaints we’d expect, provided the implied measurements of the situation.”
Wonga, the payday lender that is biggest, received the essential complaints with 237 in 2013-14, accompanied by Casheuronet, which has brands including fast Quid and weight to Pocket, with 50.


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Tata Motors Shows Big Jump in Second Quarter Profit
By Brendan Moore
A very tough 2008 and equally bad first part of 2009 has given way to profits again at India’s Tata Motors. Tata beat analysts’ forecasts as their profits more than doubled in the second quarter.
Tata posted the excellent numbers as a result of increased demand, higher margins owing to a decrease in costs and lower foreign exchange costs. Tata stated that its margins had jumped to 13.4%, a huge spike of 580 basis points from same time last year.
A company executive stated, “Volume recovery combined with improved realizations contributed to growth in revenues while stable material prices and accelerated cost reduction efforts continued to yield beneficial impact on margins.”
Tata produces an Indian lineup of lower-range passenger cars, the Nano, the world’s cheapest car, the Jaguar and Land Rover lines in the U.K, and a full range of trucks and busses for the Indian commercial market.
The profit figures do not include results from Jaguar Land Rover (JLR), which are resported separately.
As good as Tata’s performance is, it actually lags behind its main rivals, Maruti Suzuki and Hyundai India, in terms of car sales. However, Tata has just launched a new version of their Indica model that it has high hopes for in the future, and, Nano sales are expected to keep rising as production increases in order to match pent-up demand.
All the Indian automakers’ results were buoyed by sales in the all-important Indian festive season just passed, considered by most Indians to be a particularly auspicious time to make a major purchase.
COPYRIGHT Autosavant – All Rights Reserved


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Do you use Intel Optane products or intend to add these storage devices to your system in the near future?
A recap of the keynote from IDF 2015: RealSense "Immersion," wearables, the Curie IoT platform — and a terrifying army of robot spiders.
Intel made its "Llama Mountain" Core M 2-in-1 reference design available for some scrutiny at IDF 2014.
Intel's Core M platform should enable slim and high-performance 2-in-1 PCs and wants to kill cables and passwords of all kinds.
Today at Moscone West in San Francisco, Intel CEO Brian Krzanich took the stage to deliver the keynote address to open this year's Intel Developers Forum (IDF).
Intel’s desktop processor roadmap has surfaced and shed some light on the company’s strategy for the next two years.
Intel is increasing performance while reducing power thanks to drivers set to be released this week for the Intel HD Graphics 4000 GPU.
Intel-based Ultrabooks are now shipping with a special version of McAfee Anti-Theft which takes advantage of Intel's baked in Anti-Theft Technology.
Intel foresees ultra-dense resolutions coming to a wide-range of mainstream displays by the year 2013.
Acer and Asus will release PCs with Thunderbolt technology early next year. Meanwhile, Intel says that copper wiring will be used in the foreseeable near future thanks to the high cost of fiber optics.
MSI showcased a PCIe card that enabled voice control on select MSI motherboards featuring the "JDLED3" header.
McAfee's DeepSAFE tech will keep an eye on memory and processor activity in real time, rooting out sneaky malware before they dump their payload.


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Molly-Mae is back with a party edit for PrettyLittleThing. The Love Island runner-up stars in a new ad for the fashion brand, modeling some of the must-have pieces from her latest collection, which includes styles for a variety of occasions, from special date nights to drinks with friends, to a boujee New Year’s celebration. Among the featured pieces are a tailored trouser suit co-ord, PU trousers, a statement body, an embellished velvet blazer, figure-worshipping sequin jumpsuit and strappy heels.
The soundtrack music is the 2019 single “Snowcone” by Maryland artist REI AMI.
Molly-Mae Hague, who was named the brand’s newest ambassador earlier this year, in September, appeared in a previous advert for PTL, wearing styles from her capsule collection for the brand.


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Schools are being warned that potentially-deadly asbestos has been found in crayons aimed at primary school-age children.Testing carried out by the Australian Competition and Consumer Commission (ACCC) and WorkSafe Victoria found asbestos at trace levels in the following products:
- Dora the Explorer personalised 32 pack crayons
- Dora the Explorer jumbo crayons
- Arti Crafti 16 piece crayons
- Peppa Pig 8 wax crayons
- Disney “Frozen” jumbo crayons
- Disney “Mickey Mouse and Friends” crayons
Acting Commissioner for Consumer Protection Gary Newcombe said that despite the low risk: “We do not want to take any chances, so as a precaution we are urging consumers, especially parents and teachers, to check the brand of any crayons in their home or school and to dispose of crayons that appear on the alert list.”
Any schools that do have stocks of the crayons on the list should not simply dispose of them in garbage collections as this contravenes strict laws on the handling of asbestos, even at low levels.
WorkSafe WA Commissioner Lex McCulloch said: “Environmental protection laws in all states and territories prohibit the disposal of asbestos via standard garbage collection and, if not returned to your supplier, products should be taken to an asbestos disposal facility.” Schools can find such facilities at the ASEA website.


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NortonLifeLock( one of the global leaders in cyber safety) and Avast (one of the global leaders in digital security and privacy) recently announced that they have reached an agreement on the terms of a merger worth more than $8 billion. According to reports, Norton will acquire all shares of Avast and will create a larger cybersecurity firm. ”Great merger. The combination of Avast’s product line with the power of LifeLock personal monitoring is a great combination for the channel”, said Michael Goldstein of LAN Infotech.
”Based on NortonLifeLock’s closing share price of USD 27.20 on July 13, 2021 (being the last trading day for NortonLifeLock shares before market speculation began in relation to the merger on July 14, 2021, resulting in the commencement of the offer period), the merger values Avast’s entire issued and to be issued ordinary share capital between approximately USD 8.1B and USD 8.6B, depending on Avast shareholders’ elections.”
The agreement comes nearly one month after both companies provided confirmation they were discussing a possible merger of both companies, which are publicly listed.
According to the terms of the merger deal, Avast shareholders will receive a combination of cash consideration and newly issued shares in NortonLifeLock. The new company, which has not been named, will serve over 500 million users, including 40 million direct customers.
Transforming Cyber Safety
Vincent Pilette, NortonLifeLock CEO, said:
“This transaction is a huge step forward for consumer Cyber Safety and will ultimately enable us to achieve our vision to protect and empower people to live their digital lives safely.
With this combination, we can strengthen our cyber safety platform and make it available to more than 500 million users. We will also have the ability to further accelerate innovation to transform cyber safety.”
Ondřej Vlček, Chief Executive Officer of Avast said:
“At a time when global cyber threats are growing, yet cyber safety penetration remains very low, together with NortonLifeLock, we will be able to accelerate our shared vision of providing holistic cyber protection for consumers around the globe.
“Our talented teams will have better opportunities to innovate and develop enhanced solutions and services, with improved capabilities from access to superior data insights. Through our well-established brands, greater geographic diversification and access to a larger global user base, the combined businesses will be poised to access the significant growth opportunity that exists worldwide.”
For quite some time, many online platforms have been facing various cyber threats and cyberattacks. The data of millions of users on different platforms and systems has been compromised. Ransomware continues to be on the rise. Cybercriminals are able to hide malware in different systems and applications, and consumers are often the victims when databases that have financial information and personal information are compromised.
IT leaders and experts are hoping this merger leads to a more powerful cybersecurity protection product. The new product will include the benefits of Avast’s and NortonLifeLock’s. Cybersecurity continues to be crucial for consumers and businesses of all sizes, and there is hope that this step will lead to a more safe and secure life on the internet.
”The cybersecurity industry is a team effort to combat the latest cybersecurity threats. Therefore, it is a great idea to combine the resources to fight for the same cause. The merger between NortonLifeLock and Avast will strengthen the cyber safety platform and provide it to many combined users. Furthermore, the merger should lead to antivirus products that include the benefits of Avast’s focus on privacy and NortonLifeLock’s experience in identity, all at a time when cybersecurity is critical for both consumers and businesses”, said Dr. Bennet Hammer, President of Hammer IT Consulting, Inc.
Securing The Digital Landscape
NortonLifeLock, has promoted paid safety and anti-identity theft solutions for many years, whereas Avast has promoted both paid and free antivirus solutions. The merger combines Avast’s focus on privacy and NortonLifeLock’s focus on identification, producing a complementary product
”Both these companies have largely been playing in the end consumer space. This segment has increasingly gotten more aware of the need for cybersecurity when it comes to protecting personal data. Also, these products are quite complementary to each other, wherein Avast helps prevent the breach and LifeLock comes in when a potential breach has happened already. We see this is quite a synergistic and strategic merger and a win for our customers as the merged entity comes out with a more holistic solutions that are inherently complementary to each other”, said Ashu Singhal who runs Orion Networks, an IT support company in Maryland.
”Mergers are usually a doubled-edged sword. From a “business standpoint,” these companies saw great value in joining forces. One saw an opportunity to innovate, another saw money (in many different forms). But what does this mean for the customers using the lower-end security? Does this mean they must now pay fees? The cyber world gets more complicated every day and perhaps it is time the consumer world embraces the reality of paying for personal cyber, much the same way the consumer pays for home/auto/life insurance. The work from home paradigm shift is going to accelerate this. I am sure LifeLock looks at this as perfect timing and, from a marketing perspective, is tremendous branding for them. It builds their reputation and expands their product set”, said Mike Shelah of Advantage Industries.
”Also, acquiring the Avast database is a huge win. What I personally want to see from this merger is real innovation to bring enterprise-class service and solutions to the typical family or individual”, added Shelah.
While the latest information did not reveal any specific or particular product plans, consumers and organizations should not be surprised if NortonLifeLock begins providing Avast solutions and vice-versa.
As mentioned previously, the new name following the merger has not been released. However, it will function by means of twin headquarters at NortonLifeLock’s main location in Arizona and Avast’s main operations, which lies within the Czech Republic. The deal is predicted to be completed in mid-2022 after regulatory approval is finalized. What are your expectations on the merger? What impact do you think it will have on the cybersecurity and digital landscapes?


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Airbus announced on Monday at the Paris Air Show that it would give the cabins of its single-aisle A320 a new and glitzy look which is to start in 2020. The new designs carry A320’s twin-aisle siblings, the A330 neo and A350 XWB, which are both getting a similar cabin makeover.
It has given a new makeover to it overhead bins too, it’s overhead bins now fit eight bags instead of the usual five with space for larger bags. Other features include:
- Increased cabin width- new sidewall panels offer an extra inch of shoulder space
2. Window shades that give more window area and better views
3. A new lavatory design including mood lighting, automatic aroma dispenser and anti-bacterial coatings
4. Interior cabin lighting
5. Ceiling illumination


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Lower Inflation, GDP Growth Positive Signs for U.S. Economy
- Headline and core inflation have declined sharply since their peak rates in 2022, but both measures remain well above the Fed’s 2% target.
- Consistent with the FOMC’s strategy, inflation has trended lower, and the U.S. economy has continued to grow at a healthy pace.
- Expansionary fiscal policy over the past year or more has boosted real GDP, but it has also contributed to the rise in interest rates and increased inflationary pressures.
Recent Inflation Developments
The strategy that the Federal Open Market Committee (FOMC) has pursued to return inflation to its 2% target rate without triggering a recession and widespread layoffs appears to be paying dividends. In June, the personal consumption expenditures price index (PCEPI) was up 3% from a year earlier, while in July the consumer price index (CPI) was up 3.3% from a year earlier. These levels are far below the peak rates of 7% and 8.9%, respectively, that occurred in June 2022. The marked deceleration in headline inflation has occurred against the backdrop of continued strength in labor markets, above-trend growth in real gross domestic product (GDP) over the first half of 2023, and below-average levels of financial market stress for most of 2023.
Lower food and energy prices have been a key factor in reducing headline inflation. Over the 12 months ending in June 2023, refiners’ acquisition cost of crude oil has declined from $114 per barrel to about $71 per barrel. Recently, though, crude oil prices and the prices of refined products (gasoline and diesel) have rebounded. The pace of food price increases in the CPI has also slowed, but in July food prices remained about 5% above year-earlier levels, a little less than half the peak year-over-year increase registered in August 2022.
Price indexes that strip out food and energy are commonly known as core indexes. Over the 12 months ending in July, the core CPI increased by 4.7%, while the core PCEPI increased by 4.1% over the 12 months ending in June. These core CPI and core PCEPI readings are below recent peaks of 6.6% and 5.2%, respectively, that occurred in September 2022.
The FOMC’s 2% inflation target is based on the headline inflation rate. However, many FOMC participants, including Fed Chair Jerome Powell (PDF), tend to pay closer attention to the core inflation rate because they believe it is a better predictor of future headline inflation. The reason is that food and energy price increases tend to be temporary. In other words, what goes up (down) also comes down (up). But recent research by St. Louis Fed economist Michael McCracken and another colleague found that food price increases have become a significant predictor of headline CPI inflation. This suggests the core CPI or core PCEPI that removes food prices might not be as valuable a predictor of future headline inflation as economists and Fed officials believe.
So, what’s the outlook for food prices? Each month, economists at the U.S. Department of Agriculture publish a near-term outlook for food prices. In its August 2023 outlook, the USDA expects food prices to increase by 5.9% in 2023, but then slow to a 2.8% increase in 2024 (these are midpoints of the forecast range). Over the 12 months ending in July 2023, the CPI’s food category has increased by 4.9%, well below the 10.5% increase registered over the 12 months ending in December 2022. Thus, the sharp slowing in food prices so far in 2023, and into 2024 if the forecasts are accurate, may bode well for the future direction of headline inflation.
The Near-Term Outlook Improves—Sort Of
The third quarter 2023 Survey of Professional Forecasters, published by the Federal Reserve Bank of Philadelphia, indicates that private-sector professional forecasters expect slowing growth of real GDP, headline inflation and core inflation over the next four quarters, as well as a modest rise in the unemployment rate. These forecasts, less the one for core inflation, are plotted in the figure below. Pointedly, though, forecasts for real GDP growth over the following four quarters remain positive.
What Forecasters Predict for Economic Growth, Inflation and Unemployment
SOURCES: Survey of Professional Forecasters, August 2023.
NOTES: The figure shows quarterly percent changes at annual rates except for the unemployment rate, which is the average for the months of the quarter indicated. Data for the third quarter of 2023 to the third quarter of 2024 are forecasted.
Earlier this year, a short, mild recession was the baseline forecast for many economists, including staff at the Federal Reserve Board of Governors. However, with July unemployment still under 3.5%, job growth averaging more than 217,000 over the three months ending in July, and real GDP growth exceeding its estimated potential rate for four consecutive quarters (through the second quarter of 2023), many forecasters no longer expect a recession this year.According to the median FOMC participant, the longer-run estimate of real GDP growth is 1.8%. Indeed, a recent survey (PDF) of business economists conducted by the National Association for Business Economics found that nearly half of respondents expect the next recession will not occur until the second half of 2024 or later.
Some key data at the beginning of the third quarter have bolstered expectations of an improving economy over the second half of 2023. In particular, retail sales, automotive sales and industrial production all posted healthy rates of increase in July. Accordingly, some forecasters have ramped up their estimates for third quarter real GDP growth. In this vein, the Federal Reserve Bank of Atlanta’s GDPNow forecasting model has pegged third quarter growth at an annualized rate of 5.9%. However, few other forecasts are that optimistic. For example, the consensus in the August Survey of Professional Forecasters was for third quarter real GDP growth of 1.9%.
Healthy demand from consumers, businesses and the government for final goods and services has been an elixir for labor demand. Although private sector job openings in June (at 9.6 million) were about 20% below their March 2022 peak, they were still 33% higher than their level in January 2020, before the COVID-19 pandemic. The inability of many firms to fill job openings also has kept nominal wage gains above their pre-pandemic rates. In July, the median wage measured by the Atlanta Fed’s wage tracker was up by 6% from a year earlier. Headline CPI inflation was up by 3.3%, resulting in a real wage gain of about 2.75% since July 2022.
In addition to the increase in real wages, consumers have benefited from rising levels of real wealth. First, above-trend real GDP growth has boosted corporate earnings and, thus, equity prices; stock prices (as represented by the S&P 500) are up by a little more than 17% year to date. Second, house prices have continued to increase—they are up 7.3% in 2023 through July—despite a 32% decline in total (new and existing) home sales since January 2022. However, with mortgage rates rising to near 7.5%, the risk to home sales and further house price gains seems skewed to the downside.
Fiscal Policy Actions Are a Two-Edged Sword
Nonresidential construction activity—both public and private—has been another key driver of the economy’s forward momentum this year. Three new laws—the 2021 Infrastructure Investment and Jobs Act, the Inflation Reduction Act of 2022 and the 2022 CHIPS and Science Act—have boosted nonresidential construction activity directly, through increased budgeted outlays, and indirectly, through government subsidies to private companies. For example, from November 2021 through June 2023, public highway and street construction has increased by nearly 25%, while construction on private manufacturing facilities has increased by 109%. According to an October 2022 report by McKinsey & Co., these three pieces of legislation will boost federal discretionary expenditures by $2 trillion over the next decade, so further impetus is likely.
Expansionary fiscal policy produces both benefits and costs. The direct benefits of increased discretionary outlays are increases in final goods and services, and thus increases in real GDP. Moreover, if the new capital spending raises productivity, then real per capita incomes, and thus living standards, will also increase. However, increasingly large federal budget deficits and a rising debt-to-GDP ratio, which are the Congressional Budget Office’s baseline projections, also tend to raise interest rates and inflation. For example, large, pandemic-related fiscal actions appear to be an important factor in the scale and persistence of inflation since early 2021.
Stronger economic growth and the prospect of persistently large budget deficits also appear to be spurring higher interest rates. Currently, the yields on 10-year nominal and real government bonds have increased to their highest levels in more than a dozen years. This development presents yet another risk to the U.S. economic outlook, since higher interest rates tend to reduce expenditures on interest-sensitive goods and services (e.g., autos and housing) and the prices of financial assets, like stocks.
Key Themes in the U.S. Economic Outlook
Above-trend real GDP growth, healthy labor market conditions and declining—but still above target—inflation remain key themes in the U.S. economic outlook. If inflation remains stubbornly high in the face of continued resilience from the economy, then further actions by monetary and fiscal policymakers could be required to bring inflation back to the Fed’s 2% target.
- According to the median FOMC participant, the longer-run estimate of real GDP growth is 1.8%.


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Featured on Episode 11
Our companion animals are getting fat. This trend of cats and dogs gaining unhealthy amounts of weight is happening all across the Western world.
Here’s where we’re at:
The Canadian Veterinary Medical Association estimates that 60% of pets in Canada are overweight or obese. It’s believed that pet weight gain is caused by animals getting fed too much.
According to Canada’s 2011 Pet Wellness Report only 18% of Canadian pet owners are feeding their companion animals the suggested daily amounts.
To top it off, pets aren’t getting ample playtime and/or walks.
The majority of American pets are overweight.
A recent study by the Association for Pet Obesity Prevention (APOP) estimates that 52.7% of dogs are overweight or obese. Meanwhile cats fare even worse with 57.9% who are overweight or obese.
The APOP has been monitoring this worrisome trend for eight years, and the numbers on the scales continue to increase.
In the United Kingdom, pets are experiencing a similar weight gain as ones across the pond.
Currently, one in three dogs, carry extra pounds. That’s approximately 2.5 million K-9s. One in four UK cats are overweight which totals more than two million cats.
Nearly 50% of pets are overweight or obese in Europe. Like in other regions, owners don’t acknowledge or accept that a pet is above their ideal weight. Owners needs to admit it and then commit to focusing on reducing the animal’s weight.
Regardless of where a pet is in the world, extra pounds make our furry loved ones more susceptible to:
- diabetes (type 2)
- high blood pressure
- heart and respiratory disease
- kidney disease
- Many forms of cancer
- Lowered life expectancy (by up to 2.5 years)
If we want to keep our beloved critters in our lives as long as possible, it’s important that we help them maintain a healthy weight.